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Margarita [4]
2 years ago
9

Why is it important to evaluate trade offs and opportunity costs when making choices

History
1 answer:
Svetllana [295]2 years ago
5 0

When facing a decision that comprises several attractive alternatives, such a scenario automatically poses a trade-off. Each alternative involves certain pros and cons, and choosing one means rejecting the positive outcomes provided by others.

The opportunity cost comprises the benefits lost when choosing one alternative over the others. Therefore, the alternative with the lowest opportunity cost is the optimal choice.


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